As someone who always (if possible) plays a spellcaster, this approach is extremely good news—I don't see any tedium in the processes described, but rather a very substantial opportunity to really role-play a mage. A lot does depend on how intuitive the actual mechanics are, but as a concept, this is really attractive. It looks like a lot of work, though, especially since many players don't choose to go that route. Still, as an example, look at the success in sales Assassin's Creed had basing their game on 'thiefly' activities.

Also, that blog site has come a long way since the last time I looked at it—very nice.